Big Bay Ridge Sale at Kings County Auction


A big Brooklyn auction was held this Tuesday, and the surprising bid of the day was 463 86th Street, pictured above. Says a tipster: “463 86th Street starting bid was $1.6m. 4 sharks bid against each other and it went for the high price of $2,820,000. It’s 2006 all over again. I believe that the bidder was a front guy for Thor equities Joe Sitt.” A real estate blog confirms, and says it was the smallest purchase for Thor in NYC. The buyer was vague about development plans; right now it’s a modest building with a clothing store on the ground floor and an apartment on the second level. Of the 16 properties on the auction block, all but three were claimed. The minimum bid for the 13 purchased properties was $6.777 million, $7.225 million came in. 163A Halsey Street was picked up for $415,000, 244 Hawthorne Street for $475,000, and 151 Prospect Avenue for $340,000. See the full list of sales here.
True bidding war erupts at auction in Brooklyn [Malcolm Carter]

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